It has become very important to educate young adults about their financial goals prior to them leaving high school to enter the work force or head to post-secondary training and/or college. At West Florence High School in Florence, South Carolina Bank of America assisted the JAG class in learning about savings goals and their financial futures.
On May 20, 2014, Mrs. Vestina Davis McElveen, the Bank of America representative spoke to the JAG class about attaining the right solutions for your saving goals. The class was interested in learning about how to save money and its importance. Mrs. McElveen discussed how the students could start a minor savings account and that it has special pricing for those individuals less than 18 years of age. She explained to them the benefits of this account including:
- A cost-effective account that can grow with a child
- It requires joint ownership for children under 16 years old.
- Allows parents to start teaching money management
- The account converts to a Regular Savings account when the minor reaches 18 years of age
In addition, she taught students about Regular Saving accounts, Rewards Money Marketing Savings, Certificate of Deposits (CD), and Individual Retirement Accounts (IRA). During the semester Mrs. McElveen was very impressed that the JAG students did so well and during the sessions brought forth questions and concerns about banking needs. She contacted the JAG Specialist Linda Williams to ask if she could bring a gift for the students. The gift was Bank of America tee-shirts. The student immediately put the tee-shirts on and pictures were taken of the JAG class and Mrs. McElveen. She brings something for the students each session cups, pens, pencils or donuts. The students enjoyed what they learned about banking and their finances and it is pertinent information for their futures. The partnership between West Florence High School and Bank of America is a perfect representation of the JAG model.